Bloomberg Law for HR Professionals is a complete, one-stop resource, continuously updated, providing HR professionals with fast answers to a wide range of domestic and international human resources...
March 18 — HR professionals may have ambitious goals for how to analytically use the data they are gathering on the workforce, but many are still failing to exploit its full potential, according to survey results released March 16 by Atlanta-based outsourcing company Randstad Sourceright.
“Nearly half say they don't leverage workforce intelligence in their planning process, and HR leader feedback from across the world tells us current complexity of systems and technology combined with lack of resources presents a roadblock,” the company said in its “2015 Talent Trends Report,” which details some 25 HR and talent management trends based on an international survey of 350 senior HR and talent acquisition managers. Randstad conducted the survey from Oct. 24 to Nov. 28, 2014, drawing 18 percent of the participants from the U.S.
Of the 56 percent of survey respondents who said they do “use talent analytics and insights to inform their workforce planning process,” 73 percent said they do so to streamline workforce planning, 69 percent said they do it to identify and deal with shortfalls in skills and 65 percent said they do it “to clearly identify high-potential employees for development.”
In addition, survey respondents use talent analytics “to improve alignment of people and company strategy, linking performance to compensation, and [providing] deeper access to external talent pools,” Louisa Wilson, global marketing director of Randstad Sourceright, said in a March 18 e-mail to Bloomberg BNA.
Wilson had several suggestions for “ways HR departments can look to integrate analytics into the talent strategy” based on the survey. For example, she said, when it comes to recruitment, “talent analytics enables monitoring and mapping of high-potential employee career paths within the organization,” including such employees' previous skills and background as well as their behavior and personality traits, which HR can use “to build a data-driven talent attraction and recruitment approach.”
The talent analytical approach can determine “quantifiable bottom-line impact” from such standard recruitment metrics as the time it takes to fill a position, the cost per hire and retention, Wilson added.
She also suggested “aligning the HR and workforce strategy with the business strategy through market intelligence and talent mapping to identify new markets for growth opportunities.”
Wilson said HR data and analytics can additionally be used to identify:
• “what drives high levels of retention and engagement”;
• what motivates high-performing salespeople and how to recruit them;
• “why some offices deliver higher levels of productivity and what causes the variation”;
• “the leadership pipeline—who are the most successful leaders, what makes them successful and what's the profile of potential leadership talent”;
• what kinds of employee talent lead to “higher levels of customer satisfaction and retention”; and
• what talent gaps to look out for as the business grows and how to develop the talent pipeline accordingly.
To contact the reporter on this story: Martin Berman-Gorvine in Washington at email@example.com
To contact the editor responsible for this story: Simon Nadel at firstname.lastname@example.org
The report can be requested at http://content.randstadsourceright.com/talent-trends-report.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)